EFCC Re-Arraigns Five Suspects For N789.6m Subsidy Scam

The Economic and Financial Crimes , , on Tuesday, February 26, 2013, re-arraigned two and three of its directors on an eight count charge of fraudulently obtaining N789,648,329.25 (Seven Hundred and Eighty Nine Million, Six Hundred and Forty Eight Thousand Three Hundred and Twenty Nine Naira, Twenty five kobo) from the government as subsidy under the Petroleum Support Fund .

The accused who re-arraigned before Justice Lateefa Okunnu of the Lagos High Court are Downstream Energy Sources Limited, Alhaji Adamu Aliyu Maula, Rocky Energy Limited, George Ogbonna and Emmanuel Morah.

The accused allegedly obtained the sum from the government by falsely claiming that the said sum represented subsidy accrued from the importation of 142, 730, 227 litres of Premium Motor Spirit (PMS)
They alleged to have at various times fraudulently forged different bill of lading for Premium Motor Spirit not supplied, in a bid to claim the government’s subsidy on fuel.
After listening to the charges  to them, the defendants pleaded not guilty;  a development which prompted the prosecution counsel, Rotimi Jacobs, SAN, to ask that they be admitted on their previous bail conditions already granted by Justice Habiru. Jacobs also asked for an accelerated trial so that the case can be concluded in good time.

Justice Okunnu granted  the  prayers of Jacobs and admitted the defendants to bail on the previous bail terms offered them by the former trial judge. She also adjourned the case till 6,7,8,9 & 10 2013 for trial.


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